New York continues to attract ambitious young people, but apparently it’s also getting pretty good at showing them the door.
The metro area recorded the largest net loss of Gen Z residents in the country in 2024, with nearly 30,000 more young adults leaving than arriving, according to Census data analyzed by Redfin, according to the NY Post. Millennials were even more eager to pack up, producing a net outflow of almost 43,000 people ages 28 to 43.
The Post writes that a sizable portion of those departures didn’t involve moving halfway across the country. More than 9,200 Gen Z residents went from the New York metro area to Philadelphia, making it the second-busiest migration route for that generation nationwide. Only the roughly 60-mile move from Los Angeles to Riverside attracted more Gen Z movers.
The economics aren’t particularly difficult to understand. Redfin estimates a typical New York-area home costs roughly $832,000, compared with about $309,000 in Philadelphia. That leaves plenty of room for someone to trade New York for a cheaper city while remaining close enough to friends, family and jobs in the Northeast.
And then there are New York’s famously welcoming taxes. Between state and city income taxes, eye-watering housing costs
